February 2015 Tax Talk – Business Accountants Cairns

By 1 February, 2015News
Read The Full February 2015 Tax Talk Here

In this issue of Tax Talk, we cover:

The ATO Has Announced Two New Data Matching Programs. These are programs wherein the ATO will aquire data pertaining to both Motor vehicle purchases and Share transactions, and match them with transactions made by individuals and businesses.

A Focus On “Super-Risky” Industries will be made by the ATO, to identify workplaces where employers are at greater risk of not making Super contributions.

Travel Allowance For Truck Drivers may be hard-lined by the ATO, potentially requiring drivers to prove certain aspects of their activities, and how they calculated the claim amount.

Super Recovered From Phoenix Operators has been made available to workers affected by the operation of those companies.

Single Touch Payroll is a technology that allows accounting software used by employers to directly report Pay As You Go Withholding, PAYGW, to the ATO, as an alternative to summaries and reports.

The Taxable Payments Annual Report is still overdue for some entities in the building and construction industry. Due on the 21st of July, 2014, the ATO is writing directly to these entities, making them aware of their obligations.